气候变化领域集成服务门户(CCPortal): Electricity restructuring and the relationship between fuel costs and electricity prices for industrial and residential customers

CCPortal

DOI	10.1016/j.enpol.2020.111559
	Electricity restructuring and the relationship between fuel costs and electricity prices for industrial and residential customers
	Ohler A.; Mohammadi H.; Loomis D.G.
发表日期	2020
ISSN	03014215
卷号	142
英文摘要	A major concern with electricity market restructuring has been the possibility that fuel price volatility may leak into electricity prices. This view is credible if electricity price – fuel costs relation is stronger in restructured than in non-restructured states. We examine the validity of this view using panel data on for industrial, residential and commercial sectors in US states. The analysis accounts for cross-sectional dependency, cross-state heterogeneity, and interdependency of state fuel markets. The common correlated effects mean-group estimates suggest that (1) coal and natural gas costs Granger-cause electricity prices for industrial and commercial customers in both non-restructured and restructured states; (2) both fuel costs also Granger-cause electricity prices for residential customers in non-restructured states but only natural gas costs cause electricity prices in restructured states; (3) the long-run impacts of fuel costs on electricity prices are higher in non-restructured than restructured states; and (4) electricity prices exhibit lower persistence in non-restructured than in restructured states. These results are do not support the view of higher integration between input costs and electricity prices in restructured markets. Policymakers should be aware of the differences in electricity price response in alternative market structures when implementing new federal policies. © 2020 Elsevier Ltd
关键词	Common correlated effects Deregulation Electricity markets Fuel costs
英文关键词	Commerce; Cost benefit analysis; Housing; Natural gas; Sales; Commercial customers; Commercial sector; Electricity market restructuring; Electricity prices; Electricity restructuring; Higher integration; Market structures; Residential customers; Costs; commodity price; electricity industry; energy market; energy policy; fuel consumption; industrial location; price dynamics; residential energy; United States
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/204802
作者单位	Department of Economics, Illinois State University, Campus Box 4200, Normal, IL 61790, United States
推荐引用方式 GB/T 7714	Ohler A.,Mohammadi H.,Loomis D.G.. Electricity restructuring and the relationship between fuel costs and electricity prices for industrial and residential customers[J],2020,142.
APA	Ohler A.,Mohammadi H.,&Loomis D.G..(2020).Electricity restructuring and the relationship between fuel costs and electricity prices for industrial and residential customers.Energy Policy,142.
MLA	Ohler A.,et al."Electricity restructuring and the relationship between fuel costs and electricity prices for industrial and residential customers".Energy Policy 142(2020).